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Small-Business Groups Parse Tax Deal (Wall Street Journal)
President Obama's newly proposed tax package is being praised, though with cautious optimism, by several of the nation's most prominent small-business advocacy groups.
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The deal would also allow businesses to expense 100% of most of their investments in 2011, which could encourage owners to purchase new equipment and ultimately hire more workers, says Keith Hall, national tax adviser for the National Association for the Self Employed in Washington. "The evaluation of investing in new equipment for small businesses is predicated on existing tax laws," he says. "When small businesses invest in new equipment, they're going to need new employees to work that equipment."
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